Freeport-McMoRan Inc (NYSE:FCX)’s traded shares stood at 1.79 million during the latest session, with the company’s beta value hitting 1.89. At the last check today, the stock’s price was $43.27, to imply a decrease of -1.41% or -$0.62 in intraday trading. The FCX share’s 52-week high remains $55.15, putting it -27.46% down since that peak but still an impressive 24.5% since price per share fell to its 52-week low of $32.67. The company has a valuation of $62.18B, with an average of 9.42 million shares in intraday trading volume over the past 10 days and average of 12.13 million shares over the past 3 months.
Analysts have given a consensus recommendation of Buy for Freeport-McMoRan Inc (FCX), translating to a mean rating of 1.86. Of 19 analyst(s) looking at the stock, 0 analyst(s) give FCX a Sell rating. 0 of those analysts rate the stock as Overweight while 7 advise Hold as 12 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at 0.4.
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Freeport-McMoRan Inc (NYSE:FCX) trade information
After registering a -1.41% downside in the latest session, Freeport-McMoRan Inc (FCX) has traded red over the past five days. The 5-day price performance for the stock is -0.70%, and -2.05% over 30 days. With these gigs, the year-to-date price performance is 2.14%. Short interest in Freeport-McMoRan Inc (NYSE:FCX) saw shorts transact 21.51 million shares and set a 1.92 days time to cover.
The extremes give us $24 and $62 for target low and target high price respectively. As such, FCX has been trading -43.29% off suggested target high and 44.53% from its likely low.
Freeport-McMoRan Inc (FCX) estimates and forecasts
Looking at statistics comparing Freeport-McMoRan Inc share performance against respective industry, we note that the company has outperformed competitors. Freeport-McMoRan Inc (FCX) shares are 12.23% up over the last 6 months, with its year-to-date growth rate higher than industry average at 9.09% against 7.20%. Revenue is forecast to grow 2.60% this quarter before jumping 63.00% for the next one. The rating firms project that company’s revenue will grow 15.70% compared to the previous financial year.
Revenue forecast for the current quarter as set by 3 analysts is 6.58B. Meanwhile, for the current quarter, a total of 2 analyst(s) estimate revenue growth to 7.3B.Earnings reports from the last fiscal year show that sales brought in 4.96B and 5.91B respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 32.70% before jumping 23.60% in the following quarter.
An assessment of the company’s 5-year growth patterns shows that annual earnings shrunk an estimated -6.56% for the past 5-year period. While 2024 is set for a 9.72% return in earnings, projections for the next 5 years are at 10.30% annually.
FCX Dividends
Freeport-McMoRan Inc has its next earnings report out in September. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Freeport-McMoRan Inc has a forward dividend ratio of 0.30, with the share yield ticking at 0.69% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 3.73%.
Freeport-McMoRan Inc (NYSE:FCX)’s Major holders
Freeport-McMoRan Inc insiders hold 0.63% of total outstanding shares, with institutional holders owning 85.09% of the shares at 85.63% float percentage. In total, 85.09% institutions holds shares in the company, led by VANGUARD GROUP INC. As of 2024-06-30, the company held over 121.49 million shares (or 8.4606% of shares), all amounting to roughly $5.9 billion.
The next major institution holding the largest number of shares is BLACKROCK INC. with 108.29 million shares, or about 7.5409% of shares outstanding. As of the market price on 2024-06-30, these shares were worth $5.26 billion.
We also have Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund as the top two Mutual Funds with the largest holdings of the Freeport-McMoRan Inc (FCX) shares. Going by data provided on Mar 31, 2024 , Vanguard Total Stock Market Index Fund holds roughly 45.05 shares. This is just over 3.14% of the total shares, with a market valuation of $1.95 billion. Data from the same date shows that the other fund manager holds a little less at 36.14, or 2.52% of the shares, all valued at about 1.57 billion.
